New secured loan options from lenders - Loans - News - Moneyfacts


New secured loan options from lenders

New secured loan options from lenders

Category: Loans

Updated: 10/12/2008
First Published: 08/12/2008

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Lloyds TSB and Cheltenham & Gloucester have announced a new range of secured loans options following the Bank of England's base rate reduction last week.

The one per cent cut has meant the bank has reduced the Libor rate - the rate at which banks to lend to each other - by 0.4 per cent.

Thus, Lloyds is offering a new range of tracker mortgages with rates that are 0.7 per cent lower than the previous loan options.

Borrowers can now choose between a two-year 'all weather' tracker at 4.09 per cent with a loan-to-value of either 60 or 75 per cent.

Meanwhile, first direct has launched two new base rate tracker mortgages, with Matt Colebrook, the lender's chief executive, noting that existing customers will also benefit from the interest rate cut.

"We're also passing on the full base rate cut of one per cent from January 2nd which makes our standard variable the lowest in the industry moving from 4.69 per cent to 3.69 per cent," he said.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Get a record low rate loan - if you qualify

Competition in the personal loans market is as hot as ever, so much so that one loan provider has slashed rates to the lowest on record – but only to those who fit the bill. The shopping bill, that is…

Competition returns to loans, but stalls in cards

Our recent figures reveal a mixed picture in terms of unsecured lending, as while competition appears to have returned to the loans market, it’s notably slowed in the credit card sector.

How to improve your credit score

Are you thinking about applying for credit? If so, you need to make sure your credit score is in order.